Carnival Corporation Declares Quarterly Dividend of $0.45 (CCL)
Carnival Corporation (NYSE:CCL) announced a quarterly dividend on Thursday, January 18th, RTT News reports. Stockholders of record on Friday, February 23rd will be paid a dividend of 0.45 per share on Friday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.59%.
Carnival has raised its dividend by an average of 17.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Carnival has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carnival to earn $4.83 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 37.3%.
Carnival (NYSE:CCL) traded up $0.93 on Thursday, reaching $69.45. The company had a trading volume of 3,299,500 shares, compared to its average volume of 3,097,627. Carnival has a twelve month low of $52.65 and a twelve month high of $69.89. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. The company has a market cap of $49,210.00, a PE ratio of 19.35, a PEG ratio of 1.16 and a beta of 0.73.
A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Buckingham Research reaffirmed a “buy” rating and issued a $84.00 price objective (up from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Deutsche Bank upped their price objective on Carnival to $70.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. Barclays upped their price objective on Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, December 21st. Finally, Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Carnival presently has a consensus rating of “Buy” and a consensus target price of $72.78.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $65.57, for a total value of $327,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stein Kruse sold 60,665 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders sold 306,393 shares of company stock worth $20,524,631 over the last ninety days. 23.80% of the stock is currently owned by insiders.
Carnival Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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